On the second day of the Islamic Development Bank’s (IDB) Golden Jubilee session in Riyadh, several key agreements were signed.
One of the agreements was a three-year framework with the Bank of Commerce and Development for $40 million, aimed at boosting Africa’s economy. Additionally, there was a $250 million financing agreement with two African banks and a three-year framework agreement with the Ugandan government for $150 million.
An agreement was also made to support emerging companies at the Arab Summit, and a separate agreement was reached with the United Nations’ Economic and Social Commission.
The event, held in Riyadh, attracted world leaders and financial representatives from across the globe.
During the session, International Monetary Fund (IMF) Managing Director Kristalina Georgieva spoke about the IDB’s commitment to addressing pandemics and other natural disasters. She noted that the IMF and IDB should work together on these issues.
The IDB’s chairman, Dr. Muhammad Salman Al Jasser, stated that the Bank allocated $182 billion in 2023 and launched more than 12,000 projects.
Riyadh Governor Faisal bin Bandar Al Saud read a message from the Saudi ruler, and the event featured speeches by the Saudi finance minister and Malaysian Prime Minister Anwar Ibrahim. Additionally, messages from other global leaders were presented via video link.
